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Crosby-on-Eden 3,500 SF Retail Building Carlisle CA6 4QN $478,600 ($136.74/SF) 7.35% Cap Rate
Investment Highlights
- Located 8 miles south of the Scottish border of which it is commonly referred to as a border city
- Open plan area on split levels, Restaurant with seating
- Grade 2 listed in the heart of the affluent and beautiful village of Crosby-on-Eden
Executive Summary
Comprises large traditional village pub which is Grade 2 listed in the heart of the affluent and beautiful village of Crosby-on-Eden, Cumbria. Main entrance leading into an open plan area on split levels, Restaurant with seating. Well equipped catering kitchen. Owner`s accommodation is a separate 3 Bedroom semi-detached cottage consisting of kitchen, large lounge, and spacious garage. This pub was recently refurbished to a high standard, whilst retaining the original character features including exposed brick, beamed ceiling, log burner and more.
The property is at present let to an Individual for a term of 6 years 11 months from 21st June 2024 at a current rent of £25,740 per annum and the lease contains full
repairing and insuring covenants. Rent review on 21.07.27 and 21.07.30 open market upward only. Tenant option to determine on 21.07.27 with min 3 months notice.
Deposit held of £4,500.
The property is at present let to an Individual for a term of 6 years 11 months from 21st June 2024 at a current rent of £25,740 per annum and the lease contains full
repairing and insuring covenants. Rent review on 21.07.27 and 21.07.30 open market upward only. Tenant option to determine on 21.07.27 with min 3 months notice.
Deposit held of £4,500.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Building Size
3,500 SF
Year Built/Renovated
1920/2020
Price
$478,600
Price Per SF
$136.74
Cap Rate
7.35%
NOI
$35,198
Tenancy
Single
Building Height
2 Stories
Building FAR
0.35
Lot Size
0.23 AC
Frontage
36’ on Crosby-on-Eden
Amenities
- Restaurant
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Crosby-on-Eden
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